Facts: The pair reached the lower limit of 1:1 structure at 199.45 Main trend on the pair remains upward from March 2025
Recommendation: Trade: Long position on CHFJPY at market price Target: 203.68, 205.65 Stop: 197.58
Opinion: Looking at CHFJPY chart, one can observe that the price bounced off the key technical support today. This support is marked with the lower limit of 1:1 structure (red rectangles) as well as 100-period moving average from D1 interval. Should buyers manage to hold the price above the support at 199.45, another upward impulse may be on the cards. We recommend taking a long position on CHFJPY at market price with two targets: 203.68 and 205.65. We also recommend placing a stop loss order at 197.58 Source: xStation5
The Japanese Yen outperforms the US Dollar on the US-Iran temporary ceasefire.
Iran said that negotiations on the 10-point proposal with the US will begin on April 10.
A sharp decline in the oil price has improved the appeal of the Japanese Yen.
The Japanese Yen (JPY) trades significantly higher against the US Dollar (USD) on Wednesday, with the USD/JPY pair sliding 0.75% to near 158.40 during the Asian trading session. The pair faces intense selling pressure as demand for safe-haven assets has diminished, following the announcement of a two-week ceasefire between the United States (US) and Iran.
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the US Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.68%
-0.82%
-0.76%
-0.34%
-1.15%
-1.62%
-0.95%
EUR
0.68%
-0.15%
-0.09%
0.32%
-0.47%
-0.98%
-0.29%
GBP
0.82%
0.15%
0.04%
0.49%
-0.30%
-0.80%
-0.14%
JPY
0.76%
0.09%
-0.04%
0.42%
-0.37%
-0.85%
-0.19%
CAD
0.34%
-0.32%
-0.49%
-0.42%
-0.79%
-1.26%
-0.62%
AUD
1.15%
0.47%
0.30%
0.37%
0.79%
-0.49%
0.17%
NZD
1.62%
0.98%
0.80%
0.85%
1.26%
0.49%
0.66%
CHF
0.95%
0.29%
0.14%
0.19%
0.62%
-0.17%
-0.66%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
During the press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, is down 0.54% to near 99.00. S&P 500 futures rally almost 2.5% to near 6,777, signifying upbeat market sentiment.
Earlier in the day, US President Donald Trump announced a suspension of planned attacks on Iranian civilian infrastructure for two weeks, through a post on Truth.Social, as Tehran agreed to reopen the Strait of Hormuz, a critical gateway to almost 20% of global oil supply. Trump added, “We received a 10-point proposal from Iran, and believe it is a workable basis on which to negotiate.”
Meanwhile, Iranian officials have also acknowledged the Hormuz reopening and have stated that negotiations on the 10-point proposal with the US will begin on April 10 in Islamabad. Tehran clarified that the 10-point proposal includes controlled transit through the Hormuz coordinated with Iranian armed forces, ending the war against Iran and allied groups, and withdrawal of US combat forces from all regional bases.
The temporary ceasefire announcement between the US and Iran has resulted in a sharp decline in the WTI Oil price, which is down over 10% around $90.00. Lower oil prices bode well for currencies from economies like Japan, which rely heavily on oil imports to meet their energy needs.
Going forward, investors will focus on the US Federal Open Market Committee (FOMC) minutes of the March policy meeting, which will be published later in the day.
EUR/JPY trades on a flat note around 184.35 in Tuesday’s early European session.
The cross keeps the positive vibe above the 100-day EMA, with bullish RSI momentum.
The initial support level is seen at 183.70; the first upside barrier emerges at 185.80.
The EUR/JPY cross holds steady near 184.35 during the early European session on Tuesday. However, the potential upside for the cross might be limited as ongoing tensions between the United States (US) and Iran could boost a safe-haven currency such as the Japanese Yen (JPY).
On the other hand, the hawkish tone of the European Central Bank (ECB) could underpin the Euro (EUR) against the JPY. Markets are now pricing in 2–3 interest rate hikes for 2026 due to surging energy-driven inflation, a significant shift from previous expectations of holding rates.
Technical Analysis:
In the daily chart, the near-term bias of EUR/JPY is mildly bullish as price holds above the rising 100-day exponential moving average near 182.10 and continues to respect a sequence of higher closes over recent sessions. The pair also trades comfortably above the Bollinger middle band around 183.70, indicating that dips are being absorbed within an ongoing uptrend rather than signalling a reversal. RSI at 55.22 stays above its midline and trends higher, confirming positive momentum but without overbought conditions.
Initial support emerges at the Bollinger middle band around 183.70, followed by the psychological 183.00 area, while the 100-day EMA near 182.10 forms a deeper support level that underpins the broader bullish structure. On the topside, immediate resistance sits near the recent upper-Bollinger proximity around 185.80, with a sustained break opening room toward the 186.30 region. As long as EUR/JPY holds above 183.00 on a daily closing basis, the path of least resistance points to further tests of the 185.80–186.30 resistance band.
GBP/JPY picks up on risk appetite but remains capped below 211.45.
Hopes of a peace deal in Iran have triggered a moderate sentiment improvement.
Yen downside attempts remain limited, as intervention risks loom.
The Pound (GBP) is trading higher against the Japanese Yen (JPY) on Monday, favoured by a moderate optimism amid news of a peace plan to end the war in Iran. The pair, however, remains capped below the 211.45 resistance area so far, although technical indicators are popping up into bullish territory.
News that Iran and the US have received the framework of a plan for a 45-day ceasefire that might end the hostilities immediately and reopen the Strait of Hormuz has been welcomed by the market. Investors have responded by selling safe-haven assets like the US Dollar for the benefit of riskier-perceived assets like the Pound.
Nevertheless, traders are wary of placing significant Yen shorts. The USD/JPY remains relatively close to 160.00 a level which, according to market speculation, might unleash an intervention by Tokyo authorities to stem undesired JPY weakness.
GBP/JPY shows a mildly bullish trend, after bouncing at 209.64 lows in late March, with the highest lows posted last week. A bullish engulfing candle in the daily chart might strengthen the case of a deeper correction if the pair closes the day beyond 211.45.
Technical indicators in the 4-hour chart show an improved momentum, with the Relative Strength Index (RSI) stabilizing just above the 50 mark and the Moving Average Convergence Divergence (MACD) line remaining in positive territory.
Price action suggests that we might be in the C-D leg of a Gartley pattern, targeting beyond the mentioned 211.45 resistance area to the area between the March 24 and 27 lows, at 212.30, and the 78.2% Fibonacci retracement of the late-March sell-off, at 212.55.
To the downside, immediate support is the April 2 low, at 210.35, ahead of the mentioned March 31 low, at 209.64.
AUD/JPY drifts higher to around 110.20 in Monday’s Asian session.
The cross keeps a mildly bullish vibe, but further consolidation cannot be ruled out amid neutral RSI momentum.
The first upside barrier emerges at 111.25; initial support is located at 110.00.
The AUD/JPY cross attracts some buyers to near 110.20 during the Asian trading hours on Monday. The Australian Dollar (AUD) edges higher against the Japanese Yen (JPY) on expectations of further interest rate hikes from the Reserve Bank of Australia (RBA).
However, the upside for the cross might be limited as escalating tensions in the Middle East could boost safe-haven demand for the JPY. Iran’s central military command on Monday warned of far more “devastating and widespread” retaliation if its adversaries hit civilian targets. The statement came after US President Donald Trump threatened to destroy Iran’s power plants and bridges if Tehran didn’t make a deal to fully reopen the Strait of Hormuz.
Technical Analysis:
In the daily chart, the near-term bias of AUD/JPY is mildly bullish as price holds above the rising 100-day exponential moving average near 107.35, extending the broader uptrend despite the latest pullback. The RSI eases to the midline, suggesting that further consolidation cannot be ruled out in the near term.
Immediate resistance emerges near the Bollinger middle band of 111.25. Above that, the next upside reference aligns near the March 19 high of 112.61, en route to the upper Bollinger Band of 113.65. On the downside, initial support is seen at the 110.00 psychological level. A deeper setback would target the lower limit of the Bollinger Band near 108.75, followed by the 100-day EMA around 107.35.
EUR/JPY may decline further as Japanese Yen strengthens on expectations the BoJ will tighten policy in April.
The International Monetary Fund praised Japan’s economic resilience, backing gradual stimulus withdrawal.
ECB’s Lagarde and policymakers reiterated that policy will stay restrictive until inflation sustainably returns to the 2% target.
EUR/JPY moves little after registering modest losses in the previous trading day, hovering around 183.80 during the Asian hours on Monday. The currency cross may extend its decline as the Japanese Yen (JPY) strengthens on growing expectations that the Bank of Japan (BoJ) will tighten policy in April to counter rising inflation driven by higher energy costs.
The International Monetary Fund (IMF) has backed the BoJ’s current path of rate hikes. Following a policy consultation on Friday, the IMF praised Japan’s economic resilience and supported a gradual withdrawal of monetary stimulus, with inflation projected to converge toward the 2% target by 2027.
However, the JPY faced pressure as oil prices surged after US President Donald Trump escalated threats against Iran. Japan remains particularly vulnerable to supply disruptions due to its heavy reliance on Middle East oil imports.
Trump issued a new deadline for Iran to reopen the Strait of Hormuz while intensifying threats against its power plants and civilian infrastructure. Iranian officials warned of reciprocal retaliation, targeting US-linked infrastructure, and stated the strait would stay closed until war damages are compensated.
Meanwhile, downside in the EUR/JPY cross may be limited as the Euro (EUR) finds support from the hawkish stance of the European Central Bank (ECB). ECB President Christine Lagarde and other policymakers have reiterated that policy will remain restrictive until inflation sustainably returns to the 2% target.
USD/JPY edges down to near 159.55 as the US Dollar ticks lower.
US President Trump promises an assault on Iran if it doesn’t reopen the Strait of Hormuz.
Investors await the US ISM Services PMI data for March.
The USD/JPY pair trades marginally down at around 159.55 during the Asian trading session on Monday. The pair shows a subdued performance as the US Dollar (USD) ticks lower, while broadly remaining firm due to threats from United States (US) President Donald Trump that he will destroy Iranian infrastructure if it doesn’t agree to a deal.
During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades marginally lower to near 100.15.
Over the weekend, US President Trump promised “hell” for Iran’s power plants and bridges, through a post on Truth.Social, if Tehran doesn’t reopen the Strait of Hormuz before the deadline, which is Tuesday, April 7, at 9:00 PM Eastern time.
On the macro front, investors await the US ISM Services PMI data for March, which will be released at 14:00 GMT. The Services PMI is expected to arrive lower at 55.0 from 56.1 in February.
Meanwhile, fears of escalating Middle East war have also improved the safe-haven demand of the Japanese Yen (JPY).
USD/JPY technical analysis
USD/JPY ticks lower at around 159.55 as of writing. However, the near-term bias is bullish as price holds within an ascending channel and consolidates beneath the upper boundary. The pair trades above the 20-day exponential moving average around 158.90, which underpins the advance and aligns with the pattern of higher lows along the channel floor near 158.10.
The 14-day Relative Strength Index (RSI) has shifted into the 40.00-60.00 zone, indicating positive, though not extreme, momentum that supports ongoing upside pressure while the channel structure is respected.
Initial resistance emerges at 160.45, the recent swing high, with the channel top near 161.00 as the next barrier to extended gains. A clear break above the latter would open the way toward higher psychological levels beyond 162.00. On the downside, immediate support is seen at the 20-day EMA near 158.90, ahead of the channel base around 158.10, which defines the lower boundary of the current uptrend. A daily close below 158.10 would weaken the bullish structure and expose deeper retracement levels toward the mid-157.00s.
Facts: Pair bounced off the lower limit of the 1:1 structure at 109.80 The main sentiment remains bullish from April 2025
Recommendation: Trade: Long AUDJPY at market price Target: 113.45 Stop: 108.80
Opinion: Looking at the D1 interval on AUDJPY chart, one can see that the price bounced off the key support. The support is marked with the lower limit of 1:1 structure at 109.80. In addition, the price sits above the 100-period moving average from the D1 interval. Taking this into account, another upward impulse is the base case scenario. We recommend going long AUDJPY at market price with a target of 113.45. We also recommend placing a stop loss order at 108.80. Source: xStation5
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